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[Homestead] Volcker warns of considerable recession

From: "Don Bowen" <don.bowen AT earthlink.net>
To: <homestead AT lists.ibiblio.org>, <SurvivingModernSociety AT yahoogroups.com>
Subject: [Homestead] Volcker warns of considerable recession
Date: Tue, 14 Oct 2008 12:31:32 -0400

http://www.iht.com/articles/ap/2008/10/14/business/AS-Volcker-Recession.php

"I've seen a lot of crisis, but I've not seen anything quite like this one,"
Volcker said in a speech in Singapore. "I don't think we can escape damage
to the real economy. I think we almost inevitably face a considerable
recession."

"These kinds of measures - government guarantees and interventions - are
really distasteful," said Volcker, who was Fed chief from 1979 to 1987.
"However distasteful, I'm afraid they were necessary in this emergency to
restore some sense of stability and confidence."

Don Bowen KI6DIU

http://www.braingarage.com/Dons/Travels/journal/Journal.html

[Homestead] Volcker warns of considerable recession, Don Bowen, 10/14/2008